The cTrader trading platform is one of the most visible competitors of the Meta Trader 4 (MT4). It was developed by cTrader Limited, a London-based company for use mainly by ECN forex brokers. Apart from trade execution, the platform also has impressive charting tools. Both retail traders and brokers can use it to great effect. With this platform, trading with global banks without the need for intermediaries has been made possible.
To understand how exactly the cTrader Trading platform, it is important to give a good look at its features. Here are the things that stand out about cTrader trading platform:
1. Intuitive Platform
You are likely to find cTrader extremely attractive, given its uncluttered and easy-to-the-eye layout. Its intuitive nature makes is easier to use for those who are just starting out. Layout after layout, no trading platform is simpler.
2. Trade Execution
It is easy to execute trades on this platform. All one needs is to go to the list of trading instruments appearing to the left of the screen. To place an order, you only need to choose a pair and click on it. A single-click toggles the uy quote’ while the double-click triggers the ell quote’. It is also possible to make the trading automatic.
Trading execution on this platform is quick and fair, given its intentional design for use by ECN brokers. This makes the experience great for traders with varied experience in the forex markets.
3. Charting Tools
The cTrader trading platform has thorough but easy-to-understand charting tools. You can set it to free-chart, single-chart or multi-chart modes. The chart tools are visible in a single window so that you can easily choose the one you would like to view. Apart from the traditional 1, 5, and 15-minute timeframes, you can also set your timeframes to 10, 20, 45, and 60 minutes. You can choose between volume, volatility, oscillator or trend indicators.
4. Forex Brokers Using It
There are a number of popular online forex brokers who are already using the cTrader trading platform. It is available both in terms of a desktop version as well as one for use on Apple iOS and Android devices. Some of the well-known brokers that are using this trading platform include FxPro, IC Markets, ICM Capital, LCG, and Pepperstone.
5. Special Features
Users of the cTrader trading platform have access to a number of special features, which allow them to easily navigate the real market. For instance, the platform displays the live trading sessions to enable you to make informed choices. Using the proxy connection, you can access your account from any location across the world without regards to public or corporate firewalls.
- The intuitive user interface makes it easy to use
- Easy to do trade executions
- Comes with some special features
- Not many popular forex brokers are using it
- Not as versatile as the MT4 platform
- Available only to ECN traders
Give the foregoing features, pros, and cons of cTrader trading platform, it is clearly a great option for people trading with ECN brokers while looking to enjoy fast and safe trade executions.